Hypto raises seed funding of $3 million
The Hindu
The funding was led by Stellaris Venture Partners, with participation from 3one4 Capital and Core 91. The round also saw participation from prominent angel investors.
Hypto, a Chennai headquartered tech infrastructure platform focused on deconstructing financial products for developers, has raised $3 million (₹22.48 crore) in seed funding led by Stellaris Venture Partners, with participation from 3one4 Capital and Core 91. The round also saw participation from prominent angel investors, including Amrish Rau (CEO, Pine Labs) and Jitendra Gupta (CEO, Jupiter).
Hypto will utilize the raised capital to expand its technology team and build web services to serve and support fresh financial use cases for technology businesses.
Founded in 2018 by Abhishek Rajagopal, Aravind Sriraman, and Tholkappiyan Velavan, Hypto is breaking down finance in terms of primitive infrastructure and code and making it accessible to everyone. Hypto launched its first stack that supports payments infrastructure in March 2020 and is now working with over 10 banks and over 2,000 businesses. The firm said that its platform has processed over 55 million transactions totalling over $15 billion.